Pavion Blue Capital LLC Has $1.16 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Pavion Blue Capital LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 14.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,854 shares of the coffee company’s stock after acquiring an additional 1,526 shares during the quarter. Pavion Blue Capital LLC’s holdings in Starbucks were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co grew its position in Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares during the last quarter. DT Investment Partners LLC grew its position in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Keystone Wealth Services LLC grew its position in Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the last quarter. Chicago Capital LLC grew its position in Starbucks by 0.6% in the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after purchasing an additional 132 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Stifel Nicolaus decreased their target price on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $97.31 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a 50 day moving average of $95.48 and a 200-day moving average of $85.05. The stock has a market cap of $110.22 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company earned $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is currently 67.22%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.